Clorox Posts 2-Percent Sales Growth In 3Q Of 2016

Clorox Co. reported sales grew 2 percent in the third quarter, which ended March 31, 2016, compared with the same period in the previous year. Earnings from continuing operations rose to $159 million, or $1.21 diluted EPS, compared with $144 million in the previous year. Volume increased 4 percent, driven by gains recorded in all of the company's business segments. Gross margin increased 210 basis points to 45.3 percent from 43.2 percent in the previous year, boosted by favorable commodity costs, cost savings, and price increases.